From 3quarter report 2010
X. The nature and extent of the issuer’s facilities.
During second quarter 2010 it became apparent that VirTra's current facilities were no longer adequate for the current level of
business and expected future business. To accommodate faster growth than previously expected, on July 8, 2010 VirTra
signed a sixty-five month lease with a commencement date of August 1, 2010 with an option to purchase the property during
the first 36 months for $3.4 million (otherwise lease expires December 31, 2015). VirTra's main headquarters is located at:
7970 S. Kyrene Road, Tempe, AZ 85284.
This new facility is approximately 5 miles from the previous location. This move was accomplished to accommodate the
current growth rate as well as prepare VirTra for future needs. VirTra now occupies the entire stand-alone building which is
approximately 40,000 square feet with 80 parking spaces included. It is fully air-conditioned with new work stations, new
office furniture as well as an updated Contemporary Interior design. The facility accommodates demo simulators in all
configurations from a Single Screen VirTra 100 up to a 5 Screen 300° simulator and new products. This facility permits
maximum demo availability as well as a separate testing and development area which also includes the 100, 180° and 300°
simulators.
Our corporate and production offices were located in Tempe, Arizona. VirTra had leased a total of 13,000 sq. ft. divided
between a 8,000 sq. foot facility and a 5,000 sq. foot facility located within walking distance. VirTra was able to sublease the
5,000 sq. foot and is no further liability on that space. The cost for the remaining suite is about $6,600 per month. Our lease
expires in April 2011. VirTra will continue to attempt to sublease the remaining 8,000 sq. ft.
